Great Hill Partners has closed its middle-market buyout fund Great Hill Equity Partners VII at its hard cap of $2.5 billion, a spokeswoman confirmed.
The closing exceeds the original fundraising target of $2 billion, according to a news release from the private equity manager Tuesday. Its previous fund, Great Hill Equity Partners VI, closed at $1.5 billion in 2017.
Investors include the $7.6 billion Alameda County Employees' Retirement Association, Oakland, Calif.; $4.3 billion San Mateo County Employees' Retirement Association, Redwood City, Calif.; and University of Houston System's $730 million endowment.
